CIBC Has Lowered Expectations for The Descartes Systems Group (NASDAQ:DSGX) Stock Price

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) had its price objective lowered by research analysts at CIBC from $128.00 to $127.00 in a research note issued to investors on Thursday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the technology company’s stock. CIBC’s price target points to a potential upside of 26.47% from the stock’s current price.

Several other equities research analysts have also recently commented on DSGX. TD Securities upped their price target on The Descartes Systems Group from $115.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. BMO Capital Markets cut their price target on The Descartes Systems Group from $120.00 to $113.00 and set a “market perform” rating for the company in a research note on Thursday. Stephens cut their price target on The Descartes Systems Group from $145.00 to $137.00 and set an “overweight” rating for the company in a research note on Thursday. Scotiabank upped their price target on The Descartes Systems Group from $120.00 to $125.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, December 4th. Finally, Loop Capital began coverage on The Descartes Systems Group in a research note on Tuesday, December 17th. They set a “buy” rating and a $140.00 price target for the company. Five analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, The Descartes Systems Group currently has an average rating of “Moderate Buy” and an average price target of $120.33.

The Descartes Systems Group Trading Down 1.3 %

Shares of NASDAQ DSGX opened at $100.42 on Thursday. The Descartes Systems Group has a twelve month low of $87.20 and a twelve month high of $124.31. The stock has a 50 day moving average of $114.57 and a two-hundred day moving average of $110.11. The stock has a market cap of $8.60 billion, a P/E ratio of 63.16 and a beta of 0.99.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings results on Wednesday, March 5th. The technology company reported $0.43 EPS for the quarter, hitting the consensus estimate of $0.43. The Descartes Systems Group had a return on equity of 10.65% and a net margin of 21.80%. The business had revenue of $167.50 million during the quarter, compared to analysts’ expectations of $169.97 million. As a group, research analysts predict that The Descartes Systems Group will post 1.64 earnings per share for the current year.

Institutional Trading of The Descartes Systems Group

Several large investors have recently bought and sold shares of DSGX. Mather Group LLC. grew its holdings in The Descartes Systems Group by 301.7% in the fourth quarter. Mather Group LLC. now owns 241 shares of the technology company’s stock valued at $27,000 after purchasing an additional 181 shares during the last quarter. GeoWealth Management LLC grew its holdings in The Descartes Systems Group by 63.2% in the fourth quarter. GeoWealth Management LLC now owns 341 shares of the technology company’s stock valued at $39,000 after purchasing an additional 132 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in The Descartes Systems Group in the fourth quarter valued at $43,000. Trust Co. of Vermont acquired a new stake in The Descartes Systems Group in the fourth quarter valued at $54,000. Finally, GAMMA Investing LLC grew its holdings in The Descartes Systems Group by 4,950.0% in the fourth quarter. GAMMA Investing LLC now owns 505 shares of the technology company’s stock valued at $57,000 after purchasing an additional 495 shares during the last quarter. Institutional investors and hedge funds own 77.73% of the company’s stock.

About The Descartes Systems Group

The Descartes Systems Group Inc provides cloud-based logistics and supply chain management solutions worldwide. Its Logistics Technology platform offers a range of modular, interoperable web and wireless logistics management solutions. The company provides a suite of solutions that include routing, mobile, and telematics; transportation management; ecommerce, shipping, and fulfillment; customs and regulatory compliance; global trade intelligence; broker and forwarder enterprise systems; and B2B messaging and connectivity services.